Asia naphtha falls on thin trading, weakening Brent crude

27 January 2014 10:47  [Source: ICIS news]

SINGAPORE (ICIS)--Asia’s open-spec naphtha prices drifted lower on Monday amid a lack of physical trades for eight trading sessions in a row, traders said.

Weakening crude futures also dampened prices, they said.

The first-half March naphtha contract fell by $6.50/tonne from 24 January to $951.50-953.50/tonne CFR (cost & freight) Japan on 27 January, ICIS data showed.

Brent crude prices continued to trade below the previous session’s close on worries over demand from China, following the release of downbeat economic data.

“The [cracker] turnaround in Asia would start,” said a trader.

A heavy slate of cracker maintenance this year would signal lower naphtha demand, the traders said.

Meanwhile, ethylene prices fell by $40-50/tonne during the week ended 24 January to $1,480-1,500/tonne CFR NE Asia, as China was winding down business in just days before the Lunar New Year, ICIS data showed.

Additional reporting by James Dennis

By: Felicia Loo

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index